Major News and Events of 07 January 2016
What Happened on 07 January 2016
Maharashtra govt okays Odd-Even Rule
Sensex 19-months low, post tumbling China shares
IPL Franchise Workshop shifts from J&K to Mumbai
China stocks crash, brings Sensex down
New IT Reporting Norms to be effective from April
Team India reaches Australia for series starting Jan 12
Neflix comes to India, plans start at Rs 500/month
J&K CM Mufti Mohammad Sayeed dead
Science and Technology
Now available with the Auto Gear Shift (AGS) transmission, Maruti Suzuki Dzire is available for sale at a price of Rs 8.39 lakh. Offered only on the top-end ZDi variant of the sub-compact sedan, Maruti Suzuki Dzire AGS is the fourth Maruti Suzuki car after the pre-existing AGS-enabled cars, including WagonR, Alto K10 and Celerio. Powered by the 1.3 litre DDiS diesel engine, Maruti Suzuki DZire AGS would deliver a mileage of 26.59 KM/l.
Examining the ongoing odd-even plan in Delhi, the Maharashtra government is eyeing to emulate the formula in Mumbai as well. As an initiative to deal with the problems like traffic congestion and pollution, Maharashtra’s Finance Minister Sudhir Mungantiwar is ready to apply the Odd-even scheme if it proves to be a success.
Crash in China stocks has created waves in the Indian markets by bringing Sensex down by 554 points to close at 24,851- its lowest since 4 June, 2016. Also, the Nifty recorded a downfall by 172 points to close at 7,568. Indian currency rupee also fell to 66.93/dollar against yesterday’s close of 66.82, continuing its weakness amid the constantly depreciating Chinese yuan.
Owing to the death of J&K Chief Minister Mufti Mohammad Sayeed, IPL (Indian Premier League) Chairman Rajeev Shukla announced the shifting of the two-day franchise workshop (starting from 13 January) from J&K to Mumbai. The 2016 IPL will start from 9 April 2016 with Mumbai Indians as the defeating champions. Two new teams introduced in IPL 2016 include Pune and Rajkot.
As the China stocks nosedived by seven percent, the Sensex fell sharply by 500 points to reach below 25,000. Also, Nifty fell to reach 7,600 - its lowest level in over three weeks. Additionally, even the rupee fell to 66.95/dollar, in continuation to its recent failure amid depreciation of the Chinese Yuan. The Indian Oil stocks tumbled with the crude oil prices plunging to a low not recorded in 11 years. While Cairn India slumped seven percent, ONGC shares tumbled by 5 percent.
In an attempt to curb the hoarding of black money, the Income Tax Department of India has notified latest rules which would expect all high-value transactions by individuals beyond a certain threshold to be reported by property registrar, banks and other agencies. Effective from 1 April, 2016, the new norms would also have the cash receipts/withdrawal, immovable property and term deposits etc. to be reported to the tax authorities.
The Indian Cricket team led by Captain Mahendra Singh Dhoni reached Australia for the limited-over series, starting January 12. Polly Umrigar Trophy winner and vice-captain Virat Kohli showcased his excitement after arriving in Australia. Men in Blue would be playing five ODIs and three T20 Internationals during their month-long tour to Australia.
Netflix, the American multinational provider of on-demand Internet streaming media has officially entered into India. The company’s CEO Reed Hastings is quite contented about announcing the availability of Netflix in 130 other markets in Asia, the Middle East and Europe except China. With plans for the on-demand TV, movies and video streaming powerhouse available in 190 countries, India has them at Rs 500 per month for access on 1SD screen, Rs 650 per month for the HD content on 2 screens and Rs 800 per month for the 4K content on up to 4 screens at a time.
The Chief Minister of Jammu and Kashmir, Mufti Mohammad Sayeed, succumbed to acute lung infection early on Thursday. The CM was admitted to the All India Institute of Medical Sciences in New Delhi since 24 December 2015, and had to be put on ventilator after his condition deteriorated on Wednesday. As a member of the Jammu and Kashmir’s People’s Democratic Party, Mohammad Sayeed had earlier held the CM's post between 2002 and 2005.